Florida SB 1568: Education

Bill Text

1568 
Use of Digital Currency by the Department of Financial Services 
2026-03-17T12:03:40Z 
Establishing the Florida Stablecoin Pilot Program within the Department of Financial Services; authorizing the department to accept payment stablecoins; authorizing the department to conduct examinations, audits, and investigations of permitted payment stablecoin issuers; requiring the department to monitor and evaluate the pilot program and collect certain data, etc. 
ENROLLED 
2026 
S 
2026-06-26T00:00:00Z 
GB 
General Bill 
er 

 ENROLLED 
 2026 Legislature CS for CS for SB 1568, 1st Engrossed 

 20261568er 
 1 
 2 An act relating to the use of digital currency by the 
 3 Department of Financial Services; creating s. 17.72, 
 4 F.S.; establishing the Florida Stablecoin Pilot 
 5 Program within the Department of Financial Services; 
 6 providing legislative intent; providing definitions; 
 7 authorizing the department to engage in certain 
 8 activities; authorizing the department to designate 
 9 one or more payment stablecoins for certain 
 10 activities; requiring that certain payment stablecoins 
 11 meet specified criteria; authorizing the department to 
 12 accept payment stablecoins; authorizing program 
 13 participants to elect to voluntarily participate in 
 14 the program and remit payment stablecoins to a 
 15 compatible digital wallet address; requiring certain 
 16 participants to provide the department with a 
 17 compatible digital wallet address; requiring the 
 18 department to comply with certain requirements; 
 19 requiring the department to provide a compatible 
 20 digital wallet address for a specified purpose; 
 21 authorizing the department to conduct examinations, 
 22 audits, and investigations of permitted payment 
 23 stablecoin issuers; requiring the department to 
 24 coordinate with the Office of Financial Regulation 
 25 under certain circumstances; requiring the department 
 26 to monitor and evaluate the pilot program and collect 
 27 certain data; requiring the department to submit an 
 28 annual report containing certain information to the 
 29 Governor and Legislature, beginning on a specified 
 30 date and annually thereafter; providing construction; 
 31 authorizing the department to adopt rules; providing 
 32 an effective date. 
 33 
 34 Be It Enacted by the Legislature of the State of Florida: 
 35 
 36 Section 1. Section 17.72, Florida Statutes, is created to 
 37 read: 
 38 17.72 Florida Stablecoin Pilot Program.—There is 
 39 established within the department the Florida Stablecoin Pilot 
 40 Program. It is the intent of the Legislature that the Florida 
 41 Stablecoin Pilot Program yield benefits from the acceptance of 
 42 payment stablecoins as a form of payment for governmental fees 
 43 through this voluntary pilot program. 
 44 (1) DEFINITIONS.—As used in this section, the term: 
 45 (a) “Blockchain” means a mathematically secured, 
 46 chronological, decentralized, distributed, and digital ledger or 
 47 database that consists of records of transactions that cannot be 
 48 altered retroactively. 
 49 (b) “Compatible digital wallet address” means the address 
 50 of a software application that securely stores private keys for 
 51 accessing and completing transactions with payment stablecoins. 
 52 (c) “Digital asset” means any digital representation of 
 53 value that is recorded on a cryptographically secured digital 
 54 ledger. 
 55 (d) “Exchange platform” means a company licensed and 
 56 regulated by the Federal Government or a state government which 
 57 provides trading, custody, or money transmission services of 
 58 payment stablecoins or other digital assets. 
 59 (e) “Exchange platform fee” means a fee charged by an 
 60 exchange platform for the trading, custody, or money 
 61 transmission services of payment stablecoins or other digital 
 62 assets. 
 63 (f) “Federal qualified payment stablecoin issuer” means any 
 64 of the following: 
 65 1. A nonbank entity, other than a state qualified payment 
 66 stablecoin issuer, approved by the Office of the Comptroller of 
 67 the Currency to issue payment stablecoins. 
 68 2. An uninsured national bank that is chartered by the 
 69 Office of the Comptroller of the Currency pursuant to title LXII 
 70 of the Revised Statutes and is approved to issue payment 
 71 stablecoins. For purposes of this subparagraph, the term 
 72 “national bank” has the same meaning as in the GENIUS Act, Pub. 
 73 L. No. 119-27. 
 74 3. A federal branch that is approved by the Office of the 
 75 Comptroller of the Currency to issue payment stablecoins. For 
 76 purposes of this subparagraph, the term “federal branch” has the 
 77 same meaning as in s. 3 of the Federal Deposit Insurance Act, 12 
 78 U.S.C. s. 1813. 
 79 (g) “Network fee” means the cost paid by a user to have a 
 80 transaction processed and confirmed on a blockchain network. 
 81 (h)1. “Payment stablecoin” means a digital asset that meets 
 82 all of the following